EPS Scheme was introduced on 16thNov1995. EPFO gave options to the following employees to join the same, provided they can opt within 6 months from the date of commencement of Scheme. a) Employees those who had not opted FPF Fund, 1971 b)Members who had gone out of employment during the period before 1st April 1993…
Facility in EPFO’s portal for Principal Employer to view compliance for employees engaged through contractors EPFO has launched a facility for all the employers through their own login view and giving them the access & monitor the compliance of their contract employees reported in ECR by their contractors. Under the EPF & MP Act, 1952 the…
EPFO – Special drive to file e-Nomination for EPF members in Commemoration of 75th Anniversary of India’s Independence [Bharat Ka Amrit Mahotsava] EPFO has launched a special drive for persuading members to file their e-Nomination in commemoration of the 75th Anniversary of India’s Independence and set a target of 5000 e-Nominations in a week…
Ensuring the genuineness of all the PF accounts held by an employee. EPFO, in October 2014, introduced UAN which stands for Universal Account Number to be allotted to Individual Members (Employees). The UAN will act as an umbrella for the Multiple Member Ids allotted to an individual by different establishments. The idea is to link those Multiple Member Identification Numbers (Member Ids)…
The judgement pronounced by the Hon’ble Supreme Court on 28/2/2019 holding certain allowances to be wages ( basic, to be precise ) in the context of PF created a big buzz last year and some of the companies were forced to review their salary structure in the wake of the judgement. The ripples created don’t…
As per the provisions of Employees’ Provident Fund and Miscellaneous Provisions Act, in case of delay in remittance of monthly contributions, the employer is liable to pay interest. In addition, the authority can levy damages also for such a delay. However, considering the difficulties faced by the establishments in the timely deposit of contributions during…
Understanding on EPF reduced Contribution 10% Ministry of Labour & Employment vide its notification No. S.O. 1513(E) Dt. 18th May’2020 Section 6 of EPF (MP) Act, 1952 reads as under; Contributions and matters which may be provided for in Schemes. – The contribution which shall be paid by the employer to the Fund shall be…
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